Learn more about your customers to reduce losses and risk associated with collections recovery
What is collection analytics?
Collection analytics allows your organization to see the complete behavioral, demographic, and emerging view of customer portfolios through extensive data assets, advanced analytics, and platforms. An analytically driven collections model will allow you to score and segment customer accounts by exposure, risk, behavioral factors, and even willingness to pay and preferred contact channel. By moving away from a linear collections approach to a value-based approach, you can prioritize your collections activity and allow automation to handle a majority of your accounts, while focusing human interaction and scare resources where it matters.
Benefits of analytically driven collections:
- Improve individual collector performance with better credit-management information and access to decisioning tools.
- Increase the accuracy of loss-forecasting strategies and predelinquency outreach.
- Enable deeper customer segmentation, including behavioral segmentation, to develop more effective contact strategies.
- Increase recovery rates with advanced, proscriptive, and automated next best action decisions including contact time, channel, and frequency.
- Balance resource constraints and competing priorities through adopting profit and customer-based strategies.
- Applying individualized collection strategies will help your organization meet regulatory requirements that call for fair consumer treatments.
Experian’s best-of-breed collections decision engine will help your organization manage risk decisions and automate manual processes.
Incorporate a variety of data driven insights such as scorecards, custom models, and machine learning to dramatically improve data access and decisioning.
Analytics consulting services
Work in partnership with Experian’s debt management consultants to solve a wide range of complex collections business challenges.